Driven by growth in generics segment Dr Reddy’s Laboratories, India’s second largest drug maker, registered a 32 per cent increase in net profit that grew to R287 crore at the end of September quarter 2010, against R217 crore of the same quarter previous year.
Revenues from global generics drugs segment stood at R1,370 crore in the September quarter, showing growth of 8 per cent.
Sales in United States, which contributes a third of the company’s revenue, rose 3 per cent to R442 crore during the quarter, against R429 crore in the same quarter last year. European sales fell by 17 per cent to R237 crore in the quarter.
On the domestic front, sales jumped 25 per cent to R317 crore from R252 crore in second quarter previous year, consisting of volume growth of 16 per cent and new products contribution of 9 per cent.